Grade 4 Business Concepts Quiz
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Questions and Answers

Which of the following is NOT a step involved in identifying a business opportunity?

  • Conducting market research
  • Creating a business plan (correct)
  • Analyzing competitors
  • Identifying customer needs and wants

What is the key role or function of a business?

  • To provide goods and services (correct)
  • To create jobs
  • To make a profit
  • To contribute to the economy

Which of the following is an example of a business that provides goods and services in the community?

  • Park
  • Fire station
  • Hospital (correct)
  • Public library

What is the difference between goods and services?

<p>Goods are tangible products, while services are intangible actions (D)</p> Signup and view all the answers

Which of the following is NOT a source of capital to operate a business?

<p>Donations from the government (A)</p> Signup and view all the answers

Which of the following is NOT a step involved in identifying a business opportunity?

<p>Developing a business plan (C)</p> Signup and view all the answers

Which of the following is an example of a business that provides goods and services in the community?

<p>A hair salon (D)</p> Signup and view all the answers

What is the key role or function of a business?

<p>To generate profit (D)</p> Signup and view all the answers

What is the difference between goods and services?

<p>Goods are physical products, while services are intangible actions (B)</p> Signup and view all the answers

Which of the following is NOT a source of capital to operate a business?

<p>Charitable donations (C)</p> Signup and view all the answers

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